Virtu Financial Unveils Continuous Drop in Total Revenues for Q2 2023

The leading global market maker Virtu Financial has released its financial results for the second quarter of 2023 (Q2 2023), indicating an overall decline across all metrics during the period.

Total revenues for Q2 2023 came in at $506.9 million, 16.2% lower over $604.7 million in Q2 2022, with net income slumping from $148.9 million to $29.5 million.

The quarterly net trading income stood at $306.2 million, compared to $395.9 million in the last same period. And the adjusted net trading income was $278.7 million, down 22.0% on a yearly basis.

Basic and diluted earnings per share decreased to $0.16 from $0.78 in the year-ago quarter. Adjusted EBITDA was $122.0 million, declining 41.6% from $209.3 million.

Virtu ended the period with $745.8 million in cash, cash equivalents and restricted cash, with total long-term debt outstanding in an aggregate principal amount of $1,806.3 million.

In April, Fazzaco reported that Virtu Financial's total revenues for Q1 20223​ fell 12.9% year-over-year to $610.5 million.